[Nokia shares dropped 6% on news of weaker than expected Lumina phone shipments. Windows Phone handsets account for around three percent of the smartphone market according to an IDC report.]

Helsinki -- "A disappointing set of quarterly sales figures for Nokia's smartphones and basic models raised the pressure on its chief executive on Thursday and took a bite out of the company's share price."

"Investors are hoping that its Lumia smartphone range, which CEO Stephen Elop decided to base on Microsoft Corp's untested Windows Phone software in 2011, will help the company revive its ailing fortunes and close the yawning lead of frontrunners Samsung and Apple, but progress has been slower than analysts expected."